During the initial period, the interest is 3% and it will not change until the second year and it can only be changed 5 times until it reached 7%. But for a 3% interest rate and an amount of $164,500, the monthly payment is
$164,500 (0.03)(1 + 0.03)^30 / ((1 + 0.03)^30 - 1) = <span>$883.07</span>
Answer:
Interest rate = 4.75% (approx)
Explanation:
Given:
Face value of bond = $1,000
Present value of bond = $954.70
Interest rate = ?
Computation of Interest rate :
![Interest rate = [\frac{Face value of bond}{Present value of bond}-1] \times 100\\](https://tex.z-dn.net/?f=Interest%20rate%20%3D%20%5B%5Cfrac%7BFace%20value%20of%20bond%7D%7BPresent%20value%20of%20bond%7D-1%5D%20%5Ctimes%20100%5C%5C)
![Interest rate = [\frac{1,000}{954.70}-1] \times 100\\\\Interest rate = [1.04744946-1] \times 100\\Interest rate = [0.04744946] \times 100\\= 4.744946](https://tex.z-dn.net/?f=Interest%20rate%20%3D%20%5B%5Cfrac%7B1%2C000%7D%7B954.70%7D-1%5D%20%5Ctimes%20100%5C%5C%5C%5CInterest%20rate%20%3D%20%5B1.04744946-1%5D%20%5Ctimes%20100%5C%5CInterest%20rate%20%3D%20%5B0.04744946%5D%20%5Ctimes%20100%5C%5C%3D%204.744946)
Interest rate = 4.744946%
Interest rate = 4.75% (approx)
Alright, well look like this:
Public goods are goods that are open to anyone. They can’t turn down customers, and they can’t turn down even people who don’t pay.
Excludable goods means the people CAN turn away those who don’t pay. So, this is wrong.
Goods for a profit means that no matter what, they make money. Meaning those who can’t pay can still be turned away.
Privately owned goods can be turned away to and from anyone. This is also wrong.
Nonexcludable goods means that ANYONE can use this good or service, they aren’t for profit, they are non-rivalrous, etc. This is your answer.
<span>~Hope this helps!</span>
Answer: 2 Apple Pies.
Explanation:
As you may well know, the OPPORTUNITY COST of doing something is the gain you would have gotten if you did an alternative.
In this scenario therefore we will be simply answering that Monica would have done if she wasn't making 1 loaf of bread.
Monica takes 2 hours to bake a loaf of bread and 1 hour to bake a pie.
So what would happen if Monica had 2 hours free because she didn't make a loaf of bread?
If it takes just an hour to make an apple pie, Monica now has 2 spare hours so she will be able to make 2 Pies.
Therefore Monica's opportunity cost of making a loaf of bread is 2 Pies.
Consumer credit dates back to colonial times.
<h3>What is consumer credit?</h3>
Money that customers can borrow to pay for products or services is known as consumer credit. Customers who have access to credit can make purchases today and pay for them over time. Consumers can obtain credit from banks, financial organizations, and companies.
Consumer credit is governed by federal and state rules that shield borrowers from dishonest lending practices and stop companies from treating them differently based on non-financial considerations.
Examples of consumer credit are credit cards, education loans, mortgages, etc.
Consumer credit has been around since the colonial era when farmers used it frequently.
Learn more about consumer credit here:
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